Industrial Confidence Index prompted as fewer orders

The country's industrial confidence index dropped to 79.8 in December compared with 82.3 in the previous month due to fewer orders and lower sales in oversea markets, according to the Federation of Thai Industries (FTI).

Vice Chairman Adisak Rohitasune said the US subprime mortgage and the baht's strength had dumped manufacturers' confidence particularly in steel, food, and plastic industries.

However, an increase of orders and sales in domestic last month was thanks to much spending from consumers during the New Year festival.

The survey cited the unstable oil price and the global economic slowdown had strongly affected exportoriented manufacturers.

He said most operators were worrying the central bank would boost the interest rate following higher estimated inflation, which would make their cost increase.

The Nation

- Chalida Ekvitthayavechnukul